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Something isn't right about the profit share

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Something isn't right about the profit share

Old 10th Mar 2011, 01:43
  #1 (permalink)  
Thread Starter
 
Join Date: Feb 2008
Location: Hong Kong
Posts: 62
Something isn't right about the profit share

We are entitled 5 weeks + $6k. 2 weeks have already been paid (last June ?), so we would get another 3 weeks + 6k this month. All sounds good and fair? HANG ON!! During the last 6 months, many of us have gone through upgrade, salary increment, even a payrise in Jan. Our 2 weeks profit share based on this month's salary can be VERY different from the 2 weeks profit share they paid us last year. Shouldn't they also include that difference as well ??!!
12wheeler is offline  
Old 10th Mar 2011, 02:04
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Join Date: Oct 2007
Location: third rock from the sun
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If they stick with what was pointed out in an email shortly after the 2 weeks pay is that the final profit share payout would be based on current salary. So they will take your current pay x 5 + 6000 and subtract the $ amount paid out last year to account for exactly that....pay raise/change in rank etc.
dkul is offline  
Old 10th Mar 2011, 02:07
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Join Date: Aug 2007
Location: Hong Kong
Posts: 76
The amount will be calculated based on the individualís salary as of 31 December 2010 or a monthly average over 2010 (as applicable and defined in the Profit Sharing Scheme Policy).
Read it carefully !
hongkongpilot is offline  
Old 10th Mar 2011, 02:18
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Join Date: Feb 2008
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OK. Even so, if someone did his command upgrade in Nov, wouldn't he still be short-changed??
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Old 10th Mar 2011, 04:16
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Join Date: May 2002
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12wheeler

If he/she was receiving Capt year one salary on the 31st Dec then all profit share will be based on that pay scale.
404 Titan is offline  
Old 10th Mar 2011, 08:12
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Join Date: Jul 2000
Location: Smogsville
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The point being check your pay!!! What CX should do vs will do are often very different as we all should know.
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Old 10th Mar 2011, 18:51
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Join Date: Nov 2007
Location: Where You Aren't
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It will be 5 weeks of your salary as of 31 DEC plus HK$6,000 minus the DOLLAR AMOUNT you received in August.
Oval3Holer is offline  
Old 11th Mar 2011, 01:08
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The point being check your pay!!! What CX should do vs will do are often very different as we all should know.
Too true!!
12wheeler is offline  
Old 11th Mar 2011, 01:21
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Join Date: Feb 2008
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It will be 5 weeks of your salary as of 31 DEC plus HK$6,000 minus the DOLLAR AMOUNT you received in August.
OK. Got it!

I guess I have been working for this company for too long. Knowing too well what they are like, I have learnt to always read between the lines, read all the fine print and always assume they are NOT going to honour their verbal promises unless it is in black & white.
12wheeler is offline  
Old 20th Mar 2011, 23:14
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Join Date: May 2001
Posts: 40
Why is it that our colleagues at Dragon Air got an extra month "Chinese New Year bonus" in January, as well as the measly extra 3 weeks profit share we all got. Shouldn't we be asking for the same thing? Instead we are so concerned with not seeing our package degrade any further..... as far as expectation management goes, I say mission accomplished. Don't let the latest folly of cadet packages take our eyes off the end game. Considering our contribution to this company's image, we are deserving of alot more. Without us all the pledges of service, safety etc. mean Jack. All management is replaceable within a very short timeframe, you are not as easily replaced, don't ever forget that. They need us, and are petrified if we ever figure that out.

Rant over.
Kurtis Chukle Willis is offline  
Old 21st Mar 2011, 00:05
  #11 (permalink)  
 
Join Date: Dec 2007
Location: HK MTR
Posts: 140
What does the extra HK$6000 equal in US$? How do we know that the company will not use a less favourable exchange rate for us?
Sand Man is offline  
Old 21st Mar 2011, 01:22
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Join Date: May 2006
Location: mars
Posts: 206
kurtis

The lai see KA get is their 13th month, whereas we get ours in December. You are correct though, we should get that instead of the 'discretionary bonus'.
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Old 21st Mar 2011, 05:56
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Join Date: Mar 2010
Location: HKG
Posts: 36
Humble, you're right.
The one KA got is called the "Chinese New Year Bonus" (CNY Bonus) which is equivalent to CX's "Discretionary Year End Bonus"
KA used to have it every year until they joint CX. And this CNY Bonus has now become "upon company's discretion" as well... When we dun have the year end bonus, they also dun have the CNY bonus
Pomerian is offline  
Old 21st Mar 2011, 06:25
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Join Date: Jan 2005
Location: The Underside
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Our CNY bonus is contractual, not discretionary.

FX
Feather Boa is offline  
Old 22nd Mar 2011, 03:04
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Join Date: Mar 2010
Location: HKG
Posts: 36
Our CNY bonus is contractual, not discretionary.
is it?
I once come across the KA cabin crew did go to the Labour Tribunal to claim their loss of CNY bonus. But they lost in the end as the COS stated that it is up to company's discretion
Pomerian is offline  

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